Arkas III (IFC-51028)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Turkiye
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 30, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Arkas Holding A.S.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 340.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 14, 2025

Disclosed by Bank Jun 30, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, the proposed investment will be used to support the refinancing of the Arkas Holding’s mid and short-term loans; and  the Company's general corporate expenses. IFC financing will enable balance sheet optimization to facilitate financial sustainability and implementation of growth strategy through an implementation of planned capital expenditure over the next 8 years. The investment entails a long-term debt finance package of up to US$340 million, comprising of up to US$75 million from IFC’s own account and remaining to be mobilized through B / Parallel loans from other participants.                                                   

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, Arkas Holding is one of the largest maritime and logistics groups in Türkiye. It operates across the value chain, including shipping, agency services, port operations, and integrated logistics services. Arkas is an existing client of IFC in Marport (Project # 47580) with a satisfactory E&S rating. The Company and its subsidiaries have 57 offices, 14 in Türkiye and 43 abroad across the Mediterranean Sea, the Black Sea, and West Africa, reflecting the Company’s geographically diversified presence. The group operations and activities are spread across multiple business segments, organized through subsidiaries and affiliates, mainly on (a) ship ownership, management and transportation; (ii) agency services; (iii) port operations; (iv) logistics; (v) automotive; (vi) marine fuel; and (vii) other businesses in information technology, food & beverage, insurance, tourism and wellness sectors.

The Company is owned by Arkas family members. Mr. Lucien Arkas holds 40% ownership and his children, Mr. Bernard Arkas, Ms. Diane Arcas Gocmez and Ms. Claire Christine Arkas, each own 20% of the shares.

Arkas Holding is headquartered in Izmir, Türkiye.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Arkas Holding AS Client Infrastructure

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Client - Arkas Holding A.S.:

Ms. Aylin Saul - Director of Credit
Phone: +90 (232) 477 77 77
Email: Aylin.SAUL@Arkas.com.tr
Address: Liman Caddesi Arkas Binasi No:38 Alsancak 35230 Izmir/Turkiye
Website: https://arkas.com.tr/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works